Question
Ms. Qian, a member of the staff of Knowledge & Co., CPAs, worked on the audit of Client X, a non-public broker-dealer. The audit covered
Ms. Qian, a member of the staff of Knowledge & Co., CPAs, worked on the audit of Client X, a non-public broker-dealer. The audit covered the year ended December 31, 2020. The audit was completed on March 31, 2021. Ms. Qian billed Client X for 15 hours of work on the audit. On April 1, 2021, Ms. Qian accepted the position of Controller at Client X and resigned from her position at Knowledge & Co., CPAs.
REQUIRED:
Is Knowledge & Co., CPAs independent with respect to Client X for one year because of Ms. Qian's employment relationship?
(1) Respond Yes or No, and (2) Explain your answer.
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
13th edition
134472144, 978-0134472140
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